Laredo Federal Credit Union Mortgage Rates, Fees & Info
Laredo, TXLEI: 5493004ZMFHUD3MB7B40
Tax ID: 74-1327724
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Mortgage Data
Review & Overview
Laredo Federal Credit Union is a smaller credit union specializing in Refi and Cash Out Refi loans. Laredo Federal Credit Union has a high proportion of conventional loans. Their top (well, only) market is Laredo.Laredo Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders.
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Originations
26Origination Dollar Volume (All Markets)
$2,640,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| LAREDO, TX (FHA|USDA|VA) | 26 | $2,640,000 | $101,538 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 26 | $2,640,000 | $101,538 | $0 | 0.00% |
For 2018, Laredo Federal Credit Union's most frequently originated type of loan was Conventional, with 26 originations.
Loan Reason
For 2018, Laredo Federal Credit Union's most frequently cited loan purpose was Refi, with 11 originations. The 2nd most popular reason was Cash Out Refi, with 9 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 26 | $2,640,000 | $101,538 | $0 | 0.00% |
For 2018, Laredo Federal Credit Union's most frequently cited loan duration was Other, with 26 originations.
Loan Sizing
2018 saw Laredo Federal Credit Union place emphasis on $100,000 or less loans with 14 originations, totaling $840,000 in origination value.
Applicant Income
Laredo Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 7 originations. The second most popular income band? $50k or less, with 6 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 26 | $2,640,000 | $101,538 | $0 | 0.00% |
Laredo Federal Credit Union lent most frequently to those with DTI ratios of Exempt%, with 26 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 26 | $2,640,000 | $101,538 | $0 | 0.00% |
Approval Rates
Total approvals of all applications37.84%
Laredo Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination96.15%
Laredo Federal Credit Union has an exceptionally high pick rate. They most likely have borrower friendly terms or other characteristics like being fast to close or are easy to work with.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 26 | $2,640,000 | $101,538 |